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FedEx Corp downgrades Aug-2012 quarter (1Q) earnings outlook

5-Sep-2012 12:59 PM

FedEx Corp announced (04-Sep-2012) that earnings for the first quarter ended 31-Aug-2012 are expected to be in the range of USD1.37 to USD1.43 per diluted share, compared to USD1.46 per diluted share last year. The company’s original first quarter forecast was for earnings of USD1.45 to USD1.60 per diluted share. The company noted, "Earnings during the quarter were lower than originally forecast, as weakness in the global economy constrained revenue growth at FedEx Express more than expected in the earlier guidance". [more - original PR]